economic sense meaning
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English land law Answered by The WikiAnswers® Community. Making the world better, one answer at a time. economic sense is when something is for good use, in terms of the economy,benefit the economy in some sort of way. economic sense is when something is for good use, in terms of the economy,benefit the economy in some sort of way. Minor edit?
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economy Definition of economy for English Language Learners. : 1  the process or system by which goods and services are produced, sold, and bought in a country or region. : 2  careful use of money, resources, etc. : 3  something that makes it possible for you to spend less money.
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- Definition: An economic good is a physical object or service that has value to people and can be sold for a non-negative price in the marketplace. Terms related to Economic Goods: 1  Giffen Good. 2  Inferior Good. 3  The Demand Set.
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Definitions &Translations Freebase (4.75 / 4 votes) Rate this definition: Economic security. Economic security or financial security is the condition of having stable income or other resources to support a standard of living now and in the foreseeable future.
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- Definition of economic. 1  1 archaic : of or relating to a household or its management. 2  2 : economical 2. 3  3a : of or relating to economics economic theoriesb : of, relating to, or based on the production, distribution, and consumption of goods and services economic growthc : of or relating to an economy a group of economic advisers. 4 : having practical or industrial significance or uses : affecting material resources.
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Economic cost Economic cost. Economic cost is the combination of gains and losses of any goods that have a value attached to them by any one individual. Economic cost is used mainly by economists as means to compare the prudence of one course of action with that of another. The goods to be taken into consideration are e.g. money, time and resources. The comparison includes the gains and losses precluded by taking a course of action, as those of the course taken itself.
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Definitions of economics Political Economy or Economics is a study of mankind in the ordinary business of life; it examines that part of individual and social action which is most closely connected with the attainment and with the use of the material requisites of wellbeing.
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economic economic - concerned with worldly necessities of life (especially money); he wrote the book primarily for economic reasons; gave up the large house for economic reasons; in economic terms they are very privileged
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What is the difference between economic wants and non economic wants? Best Answer: An economic want is something which in order to get, you must give up something else. An economic want would be something like having a home to live in. A non-economic want would be something like a loving family. Source(s):
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economy Define economy: the structure or conditions of economic life in a country, area, or period; also : an economic system — economy in a sentence the structure or conditions of economic life in a country, area, or period; also : an economic system…
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- Capitalize direction names and their variations when they are used as nouns to stand for natives or residents of a specific area. Cap direction and region names when they are part of a proper name or designate a region widely known among your audience.
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- Economists have different and broader ideas of what their field is; my own favorite definition is that economics is that approach to understanding human behavior which starts from the assumption that individuals have objectives and tend to choose the correct way to achieve them.
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economics Paula has a degree in economics. When economics has this meaning, it is an uncountable noun. You use a singular form of a verb with it. Economics is a science. If you want to say that something relates to the subject of economics, you use economics in front of another noun.
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Equity (economics) Equity or economic equality is the concept or idea of fairness in economics, particularly in regard to taxation or welfare economics.
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Definitions &Translations Economic efficiency. In economics, the term economic efficiency refers to the use of resources so as to maximize the production of goods and services. An economic system is said to be more efficient than another if it can provide more goods and services for society without using more resources. In absolute terms, a situation can be called economically efficient if: ⁕No one can be made better off without making someone else worse off. ⁕No additional output can be obtained without increasing the amount of inputs. ⁕Production proceeds at the lowest possible per-unit cost.
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ECONOMICALLY With respect to the economic system. Context example: economically the country is worse off. Pertainym: economic (of or relating to an economy, the system of production and management of material wealth)
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Economic Goods â definition and examples Tejvan Pettinger June 12, 2014 concepts. An economic good is a good or service that has a benefit (utility) to society. Also economic goods have a degree of scarcity and therefore an opportunity cost. This is in contrast to a free good (like air, sea water) where there is no opportunity cost – but abundance.
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- economic progress meaning, economic progress definition | English Cobuild dictionary. Search also in: Web News Encyclopedia Images. economic. 1 adj Economic means concerned with the organization of the money, industry, and trade of a country, region, or society.
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- Business denotes busi-ness, that is the state of being busy – any activity in which one keeps himself busy. But the economic term of business refers to work, efforts, and acts of people or human busy in connection with the production of wealth.
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Human This at once leads to a general. definition of Economics. Economics is the social science that studies economic activities. This definition is, however, too broad. It does not specify the exact manner in which the. economic activities are to be studied. Economic activities essentially mean production, exchange. and consumption of goods and services. However, with the progress of civilisation, the. complexity of the production, exchange and consumption processes in society have increased. manifold.
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Economic freedomupdate Economic freedom is a term used in economic and policy debates. As with freedom generally, there are various definitions, but no universally accepted concept of economic freedom.
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- 3. Economics: Pleasure or satisfaction (value for money) derived by a person from the consumption of a good or service or from being in a particular place, and for the maximization of which all economic actions are motivated.
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ECONOMIC CONSUMPTION • ECONOMICS (noun) The noun ECONOMICS has 1 sense: 1. the branch of social science that deals with the production and distribution and consumption of goods and services and their management. Familiarity information: ECONOMICS used as a noun is very rare.
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- Define economics. economics synonyms, economics pronunciation, economics translation, English dictionary definition of economics. n. 1. The social science that deals with the production, distribution, and consumption of goods and services and with the theory and management of economies...
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Social capital In economics, economic growth or economic growth theory typically refers to growth of potential output, i.e., production at  full employment . As an area of study, economic growth is generally distinguished from development economics.
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economy adjective. noun. The stock markeet is a part of our economy. The stock markeet is a part of our economy. The definition of economy is inexpensive. An example of economy is a low priced car that gets excellent mileage on a gallon of gas. Economy is defined as the management of financial matters for a community, business or family.